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Tuesday, June 05, 2007

Joseph Menn of the Sydney Morning Herald tells us that MySpace and Photobucket struck a deal last week for $250 million. After Photobucket was banned from the most popular social media site, MySpace purchased Photobucket “which draws more than 30 million monthly visitors who view and store billions of digital photographs, videos and slideshows.”

Menn says, “Like MySpace, both Photobucket and Flektor are set up to make most of their money through advertising.” Now Fox Interactive adds these to their suite of services.

Fox Interactive president Peter Levinsohn said, "We now control the single busiest social media site, the single biggest personal media destination, and what I think is the coolest set of tools that exist today," referring to MySpace, Photobucket and Flektor respectively.

This is yet one more reason why MySpace continues to lead the pack in social media.